TechNation: Intel Israel Workers to Get a Big Bonus

OurCrowd put $100m into startups in 2015; Treasury opposes Golan-Cellcom merger.

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Intel Israel workers to get a big bonus

Intel’s 10,000 Israeli employees will get a bonus equivalent to 2.38 times their monthly salaries, the company has announced, citing favorable financial reports. Monthly salaries at Intel Israel range from 15,000 shekels to 50,000 shekels ($3,800-$12,600). Intel generally gives employees annual bonuses, based on the company’s performance. In addition, dozens of Intel Israel employees are thought to have received double referral bonuses for recruiting new female hires, as part of Intel’s global diversity campaign. (Inbal Orpaz)

OurCrowd put $100m into startups in 2015

OurCrowd invested $100 million in startups in 2015, the investment platform said last week. Since its launch in 2013, some $200 million have been invested in the companies in its portfolio, it stated. Of that sum, 80% went to Israeli companies. OurCrowd was founded by Jon Medved, an Israeli venture capital pioneer. “The combination of equity crowdfunding, a dramatic increase in the number of large private companies and a wave of innovation in countries such as Israel have all changed the investment world in depth," Medved said as the figures were published. (Inbal Orpaz)

Treasury opposes Golan-Cellcom merger

The Finance Ministry objects to a merger between Golan Telecom and Cellcom, it stated in a far-reaching report on Israel’s wireless market. The report notes that until recently, with just three big mobile operators, Israeli customers faced high prices and difficulties in switching providers, while high entry barriers kept out potential competitors.  All that changed a few years ago, when a reform enabled virtual carriers to enter the market. Golan and other players launched, drastically pushing down prices. A merger between Golan and Cellcom, one of the original “big three,” would likely erase those gains. “In order to encourage continued competition in the cellular market, the state must stick to the principles that guided its policies in recent years, meaning multiple players that share networks in a way that preserves competition, makes bandwidth distribution more efficient and encourages future investment in the industry,” the report said. (Amitai Ziv)